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6 things to do before claiming your lottery prize

Topic closed. 40 replies. Last post 3 years ago by jamella724.

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Joplin MO
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January 28, 2013
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Posted: June 6, 2013, 9:56 am - IP Logged

4. Assemble your team.

How do you know that the people you hire won't steal or embezzle your money?

That is sure one of my concerns!

Also, when hiring a tax attorney or trust attorney, how do you know they're not overcharging you because they know how much you now have?

    helpmewin's avatar - dandy
    u$a
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    Posted: June 6, 2013, 12:50 pm - IP Logged

    That is sure one of my concerns!

    Also, when hiring a tax attorney or trust attorney, how do you know they're not overcharging you because they know how much you now have?

     don't fall for itSmash

      Artist77's avatar - batman14

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      January 16, 2012
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      Posted: June 6, 2013, 5:08 pm - IP Logged

      That is sure one of my concerns!

      Also, when hiring a tax attorney or trust attorney, how do you know they're not overcharging you because they know how much you now have?

      All, hiring an attorney is an easy matter. Get 3-4 references from reliable sources, set up a half hour appointment and say you want to talk about a small windfall that you received, and ask their hourly rate in advance. Meet with 2-4 attorneys, ask the expected # of billable hours for a trust, etc and if you hire one of them, do not authorize them to exceed a certain amount of billable $ without your approval and a justification first.

      Do you go into into any contractual relationship (work on your home, etc) without asking the expected time and cost and getting an estimate? It is no different with an attorney. And if you do not think you are getting good service, take your business elsewhere.

      J'aime La France.

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        wisconsin
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        Posted: June 6, 2013, 7:24 pm - IP Logged

        7) Contact Richard Branson about a trip to mars. It's a good way to avoid people for awhile.

         


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          Posted: June 6, 2013, 9:56 pm - IP Logged

          #5 only applies for larger jackpots anymore (like over $100 mil).

          If someone wins the Powerball drawing this Saturday, no one will care because it's only $60 mil.

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            Posted: June 7, 2013, 3:30 am - IP Logged

            7) Contact Richard Branson about a trip to mars. It's a good way to avoid people for awhile.

             

            hahaha good idea

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              Posted: June 7, 2013, 3:32 am - IP Logged

              #5 only applies for larger jackpots anymore (like over $100 mil).

              If someone wins the Powerball drawing this Saturday, no one will care because it's only $60 mil.

              "ONLY" 60 mill? People will come for you for 1 million. ONLY 60 LOL come on man.

                Teddi's avatar - Lottery-008.jpg

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                Posted: June 7, 2013, 6:16 pm - IP Logged

                They are all good ideas.  You should have a plan in place.  You might not need as many attorneys as he mentions, but good legal and financial advice will be needed.

                I might have added changing your phone number to the list to help keep unwanted people away, as well.

                I Agree! Getting a new number and a PO Box are right up there in my book.

                  helpmewin's avatar - dandy
                  u$a
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                  Posted: June 11, 2013, 10:30 pm - IP Logged

                  I Agree! Getting a new number and a PO Box are right up there in my book.

                  I Agree!Mail For Youin a different Zipcode

                  Let it Snow Snowman


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                    Posted: June 22, 2013, 12:38 am - IP Logged

                    I agree about getting a new phone number and PO Box.  Unless you have a secure dropslot for home mail delivery, I wouldn’t continue using a exterior mailbox because you risk people breaking into, snooping through and or stealing your mail.

                    Also, these things aren’t at the very top of the list, but they do rank up there, especially in terms of reducing identity theft and people who try to perpetrate financial fraud.

                    Buy a micro-cut or confetti paper shredder, rather than one that only strip cuts. Eventually people are going to discover where you live. You don’t want people rifling through your trash searching for documents with sensitive info on them.  Shred your documents, rather than simply discard them.

                    Freeze your credit reports. You don’t want people impersonating you by opening credit accounts in your name. Freezing your reports is a useful step that helps reduce that possibility.

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                      Texas
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                      Posted: June 24, 2013, 6:50 am - IP Logged

                      This is very informative article, I appreciate the steps that are given to guide the nouveau riche in handling their finances. At least now I know what to do before I claim my prize once I win a huge amount of prize. I should not be so excited so I can come up with a good decision.